Business leaders share views at WEF ASEAN

Friday, Sep 14, 2018 10:27

Nguyen Van Tu – Representative of Hong Phat Technique-Trading-Service Company Limited – SME distributing office equipment


Nguyen Van Tu

This event, like previous ones, is a chance for me to connect with both local and foreign businesses and look at co-operating with them. I appreciate that the Government and the Viet Nam Chamber of Commerce and Industry (VCCI) have organised events to link domestic firms together and create an environment for them to exchange ideas.

My company has agreed to co-operate with some in Laos and Cambodia to sell and distribute office equipment, and we have been working with other domestic firms as well.

In my opinion, the Viet Nam Business Summit (VBS) is a good chance for companies in different fields to co-operate. The theme, connection and innovation, has proved the world is trending toward Industry 4.0 and Viet Nam is no exception. Small- and medium-sized enterprises (SMEs) like our company must work hard to take advantage of what the world has brought to Viet Nam to further improve our businesses.

Thanasak Hoontrakul – Co-Founder and Country Manager – FairDee – Insurance firm for driving services

Thanasak Hoontrakul

Fintech business is tough to develop because of all regulations. Financial-banking-insurance businesses need to be regulated. So understanding the regulations is very important to us. That’s what we did for our first 1.5 years. Like all other startups, we had to grapple with how to distribute our products and services.

The ecosystem for ASEAN startups is in its early days. People are still getting used to startups, and startups are getting used to the talent shortage. America has ample talent coming out of web giants like Google and Facebook that can be tapped for product development and programming; we don’t have that here. That’s the issue for ASEAN startups and countries that want to become startup nations – we need more in-depth technical education for entrepreneurs.

Viet Nam is very important to ASEAN as it’s considered Asia’s next dragon. Its population is bigger than Thailand, its education system is good and it has a smart, young population.

What Viet Nam does is very important and may have a big impact on other countries in the region. If we are going to invest in Viet Nam, we want to understand the economic implications and the potential risks and opportunities involved.

Industry 4.0 is important for all of us. There have been lots of good questions on whether our governments, businesses and citizens are ready for the revolution. It will have a huge impact, and we have to be ready to adapt to those changes.

This year’s event has an important theme. We need to help everyone be aware of what is coming from Industry 4.0.

Nguyen Hai Yen – Director – Benew Company – SME producing student uniforms

Nguyen Hai Yen

We have been working with VCCI for quite a long time and often attend the events it hosts. I expect local companies will come out of this event with new connections to domestic and foreign businesses. We all want to produce more and export more.

We hope the Government will support local companies in finding new markets to expand our businesses. We would appreciate more events and programmes like this one – they let us exchange ideas, learn from each other and establish new bonds.

Industry 4.0 will play an important role in any attempt to improve our business practices. We are at the VBS to learn new things and try to adapt those changes to our own businesses. If we successfully apply modern technologies, we can resolve issues like corporate governance and human resources more efficiently. Practically, these solutions have proven very effective.

Ha Thu Thanh – Chief Executive Officer of Deloitte Viet Nam

Ha Thu Thanh

The World Economic Forum ASEAN 2018’s theme is quite timely. Industry 4.0 is no longer a dream – it is becoming a reality for economies all over the world, and it spells big changes in the years to come.

The forum has shown me people are starting to value individual skills and critical thinking over academic knowledge. This can be a foundation for local businesses to improve the quality and quantity of their products in Industry 4.0.

The VBS shows the world Viet Nam is determined to foster economic growth and is wiling to co-operate with other economies in the region and the world.

As a company specialising in corporate leadership training, we believe that motivated Vietnamese firms will seek our advice on how to better develop their employees. We can provide policies that focus on skills and critical thinking.

The Fourth Industrial Revolution has already started shaping the world economy. ASEAN and Viet Nam are no exceptions, and the two sides have no choice but to step up together and take action on a few crucial matters. Chief among those are the Government’s efforts to support entrepreneurs and invest in connectivity. If we don’t do that, Viet Nam will fall behind its ASEAN neighbours. If we choose to accompany the other economies of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), Viet Nam needs to value connectivity. Local businesses will have to pledge to work with ASEAN’s business community. Finally, the education sector must shift its focus from academic learning to critical thinking skills.

Ohimor Ore – Managing Partner at Ore Ohimor & Co – Legal practitioners and arbitrators in Nigeria

Ohimor Ore

According to the Prime Minister’s statements at the VBS, Viet Nam is open for business. He invited direct foreign investment, and said Viet Nam wants to do business with the world. You can see the country’s determination to continue improving and to be friend with developed economies around the world.

When I look at the differences and similarities with other developing countries, I have to say we are excited by the progress Viet Nam has made. There is great opportunity for us to learn from your country and for both countries to share their knowledge.

Viet Nam’s business and investment environment is clearly improving, as evidenced by your country’s economic transition from a State-led economy to a liberal private economy. That’s a long journey, but the key point is Viet Nam is able to draw huge foreign capital.

This proves the country is an attractive place for foreign investors. But instead of focusing on export, you can develop your own domestic supply chain. Viet Nam is known as the manufacturing hub of ASEAN. We have to take lessons from your country and use them to become a hub in Africa. — VNS

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